RBI cancels licence of 4 NBFCs and 7 other surrender licence

The Reserve Bank Of India (RBI) has cancelled the certificate of registration of the four Non-Banking Financial Companies (NBFCs) and seven other Maharashtra-based non-banking financial companies (NBFCs) have surrendered their registration certificates.

RBI cancelled their certificates in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934

The NBFCs whose certificate of registration were cancelled include :-
  1. Kolkata based – M/s Neelanjali Engineering Private Limited
  2. Kolkata based – M/s Novoflex Tradecom Private Limited
  3. Mumbai based – M/s Guide Investments and Trading Co. Pvt. Ltd
  4. Pune based – M/s Enol Ventures Private Limited

Apart from this, seven Maharashtra-based Non Banking Financial Institutions have surrendered their registration certificates following which they won’t be allowed to transact their financial business
These include :-
  1. M/s V.H Doshi & Sons Investment Pvt. Ltd.
  2. M/s Vinodchandra Doshi Investment Co Private Limited
  3. M/s Samarth Doshi Investment Co. Private Limited
  4. M/s Echjay Overseas Trades Private Limited
  5. M/s Hari Mahavin Investment Private Limited
  6. M/s Baroda Industries Private Limited
  7. M/s Eureka Finvest Private Ltd.
So let’s discuss some questions related to this post :
1. Name the organization which has cancelled the licence of 4 NBFCs and 7 other have surrender their licence to it ?
2. Expand the term NBFC ?

Courtesy : Money Control


Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *


Forgot Password?

Sign Up
Forgot Password
Enter the email address associated with your account, and we'll email you an OTP to verify it's you.

Reset Password
Please enter the OTP sent to